Our Downend conveyancer has uncovered a discrepancy between the surveyor’s assumptions in the home valuation survey and what is in the conveyancing documents. My lawyer says that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are buying a flat and require a conveyancing solicitor in Downend who is on the Lloyds conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Downend.
The deeds to our home are lost. The conveyancers who handled the conveyancing in Downend 10 years ago have long since closed. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your conveyancer should be aware exactly where to look for all the relevant paperwork so you can purchase or sell your property without a hitch. If copies can’t be found, your conveyancer may be able to arrange cover in the form of insurance or indemnities against future claims on your property.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Downend I like with a park and railway links in the vicinity, however it's only got 61 years on the lease. There is not much else in Downend suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Harry (my fiance) and I may need to let out our Downend 1st floor flat for a while due to a new job. We used a Downend conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Downend conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must obtain consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I invested in buying a basement flat in Downend, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Downend with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2083
With 58 years unexpired the likely cost is going to be between £22,800 and £26,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.